How To Complete a 1040 EZ form
By Alicia Mena
Section 1 - The basics
Section 2 - Line 1 - 9
This is the income declaration section. You have to tell the government how much money you made from salaries, wages and tips (on Line 1), interest (bank accounts, for example, on Line 2), unemployment payments and, just for Alaska residents, permanent fund dividends (on Line3).
Line 4 is just the sum(adding them up) of the first 3 lines and defines your AGI, or adjusted gross income. Line 5 is the place where you have to say if someone is financially responsible for you. If not, and you are single, you should enter $10,300. If you file together with your spouse, you should enter $20,600. The last thing to do in this section is to subtract Line 4 from Line 5. If the amount on Line 5 is greater than Line 4, just write zero. Otherwise, you just figured out your taxable income. On Line 7, enter the income tax withheld at the federal level – you can find it on FORM W-2 and 1099 Line 8 is where you insert any work pay credit, and Line 9 (if applicable), is to file your earned income credit. In short, this applies to people who make small amounts (you can even get this if you haven’t paid any income tax). Find out more about your earned income credit in the 1040EZ Instructions